The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) – Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for The PNC Financial Services Group in a research note issued on Thursday, August 8th. Zacks Research analyst R. Department now expects that the financial services provider will earn $3.14 per share for the quarter, up from their previous estimate of $3.13. The consensus estimate for The PNC Financial Services Group’s current full-year earnings is $13.04 per share. Zacks Research also issued estimates for The PNC Financial Services Group’s Q2 2026 earnings at $4.04 EPS and FY2026 earnings at $15.94 EPS.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 EPS.
Several other equities research analysts have also recently commented on the company. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Citigroup raised their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $176.09.
Read Our Latest Research Report on PNC
The PNC Financial Services Group Trading Down 0.2 %
Shares of NYSE:PNC opened at $169.92 on Monday. The company has a 50 day moving average of $163.58 and a 200-day moving average of $156.76. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The firm has a market cap of $67.54 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.17 and a beta of 1.15. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $182.84.
The PNC Financial Services Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.77%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.
Insider Buying and Selling
In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,295 shares of company stock valued at $3,547,181. Corporate insiders own 0.42% of the company’s stock.
Institutional Investors Weigh In On The PNC Financial Services Group
A number of hedge funds and other institutional investors have recently made changes to their positions in PNC. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $26,000. Bank & Trust Co bought a new position in The PNC Financial Services Group during the second quarter valued at about $26,000. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth about $28,000. Finally, Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $29,000. 83.53% of the stock is owned by hedge funds and other institutional investors.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
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